Thursday, January 26, 2012

www.bisnis.com - JAKARTA: The government will publish a project-based sukuk country on Jan. 31 to meet a target issuance of state bonds for the quarter I/2012 Rp53, 2 trillion.For the issuance of Islamic bonds in the country this year, the project as well as state assets that could be used as the basic (underlying assets) reached Rp66, 1 trillion. (source)

The Directorate General of Debt Management site written a total issuance of state securities (government securities) in the first quarter of this year sebesat Rp53, 2 trillion. To meet these targets, variousvariants and the tenor of government bonds will be issued, whether using conventional or Islamic principles, as well as short-term to long term."To (meet target) on Tuesday, next week, we will publish a project-based sukuk. For our targets have not been able to convey, "said Director of State Sharia Securities (SBSN) Dahlan Siamat by telephone, this afternoon January 25, 2012.According to Dahlan, the government has prepared a number of projects in the state budget for 2012 amounting to Rp42 trillion can be used as underlying project-based sukuk issuance. In addition, some state assets valued at Rp18, 5 billion that also can be used as the basis of other types of state sukuk auction."Plus there will be retail sukuk maturing SR-001 in March amounting to Rp 5, 6 trillion, which could be used as additional underlying. But that does not mean that we will use all of the publishing of this year, "he said.Dahlan Siamat explained if at the time of the regular auction of sukuk investor demand is great, but the yield (yield) demanded too high, then the government may be possible to do additional auction (Green shoe).Green shoe scheme is regulated through Regulation of the Minister of Finance No.05/PMK.08/2012 of Issuance and Sale of Securities Shariah in Primary Market with Domestic Way of auction, which was published on January 9, 2012."Additional Auction SBSN or call the green shoe day after the regular auction. That meant that investors who at the time of the first auction is not won, made possible through the green shoe gets a small price and yield a weighted average, depending on market conditions, "he explained.Finance Minister Agus D. W. Martowardojo in FMD is explained by the green shoe auctions sukuk can be implemented directly by government or through corporate bond issues. Each party may submit bids in the auction SBSN."Companies that effect will be the bidders must have a valid business license from the authorities in the field of capital markets and meet the adjusted net working capital of at least a daily average over the last month amounting to Rp200 billion," writes Agus. (FAA)

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